Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; both my time-frame indicators are long (4 hourly only just) price is below the moving averages, but may have 'double ...

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Old Sep 3, 2012, 8:41am   #505
Joined Dec 2009
CAD CHF long

Leia started this thread both my time-frame indicators are long (4 hourly only just)
price is below the moving averages, but may have 'double bottomed' on the daily time-frame at significant support

The 4 hour time-frame has printed a trigger candle at the end of last week, and I have placed an order to trade this trigger candle, should price retrace to it again over the next few days

Order long at 0.96 55, stop at 0.96 00 (risk -55pips)
I have split this trade into three parts, initial target is R=1 @ 0.97 10, second at previous daily highs 0.98 55 (+200 pips, R=3.5) and the third has no target which will be managed by a trailing stop. Should the trigger be the start of a more established upward swing, I will also be looking for opportunities to add to the position, if it an be managed 'risk free'
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cad-chf-daily.gif   cad-chf-4-hour-trigger.gif  
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Old Sep 5, 2012, 6:42am   #506
Joined Dec 2009
Re: CAD CHF long

Leia started this thread
Quote:
Originally Posted by Leia View Post
Order long at 0.96 55, stop at 0.96 00 (risk -55pips)
I have split this trade into three parts, initial target is R=1 @ 0.97 10, second at previous daily highs 0.98 55 (+200 pips, R=3.5) and the third has no target which will be managed by a trailing stop.
Order has been triggered and after a small draw down (to .96 47, -8 pips) has achieved R1 (+55 pips) over night
I have now moved my stops on the second two parts to break even and the first part has closed for +55 (real value = +18 pips)

Price has now reached a level of potential stall, as it is the previous swing high on the daily time-frame aw well as the daily descending trend line
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cad-chf-daily-stall-area.gif   cad-chf-4h.gif  
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Old Sep 5, 2012, 8:01am   #507
Joined Dec 2009
EUR NZD 4H retrace for long entry trigger

Leia started this thread This pair is currently retracing into the last 4H up swing, so I am monitoring for any long 'trigger' candles (around 1.55 60, previous resistance)
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eur-nzd-daily.gif   eur-nzd-4hour.gif  
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Old Sep 5, 2012, 8:06am   #508
Joined Dec 2009
GBP NZD 4 hour retrace

Leia started this thread this pair is similar to eur nzd mentioned above (also on this weeks watch list) for 1.98 30
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gbp-nzd-daily.gif   gbp-nzd-4-hour.gif  
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Old Sep 5, 2012, 8:15am   #509
Joined Dec 2009
NZD CHF 4 hour retrace

Leia started this thread with the NZD theme, this pair also is retracing into the previous 4 hour swing and I am monitoring for a short trigger candle around 0.76 40
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nzd-chf-daily.gif   nzd-chf-4hour.gif  
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Old Sep 5, 2012, 8:19am   #510
Joined Dec 2009
AUD CHF 4 hour retrace

Leia started this thread this pair is behaving similarly to NZD CHF above (watching for price action around 0.98 70)
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aud-chf-daily.gif   aud-chf-4-hour.gif  
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Old Sep 5, 2012, 10:26am   #511
Joined Dec 2009
GBP USD long (4h trigger)

Leia started this thread daily and weekly trends are long

4h has just printed a trigger candle indicating rejection of lower prices at this time at 50 / 61.8% re-tracement of the last 4H up swing and support at the base of the daily ascending channel

I have placed a long order at 50% of this candle, initially targeting the present daily resistance level and the top of the daily ascending channel thereafter. There are three parts to this trade (if opened)

Open 1.58 45, Stop 1.58 20 (risk -25 pips) initial target 1.59 00 (+55), target 2 1.60 00 (+155 pips) and target 3 is open to be managed with a trailing stop
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cable-daily.gif   cable-4-hour-trigger.gif  
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Old Sep 5, 2012, 2:12pm   #512
Joined Dec 2009
Re: CAD CHF long

Leia started this thread
Quote:
Originally Posted by Leia View Post
Order has been triggered and after a small draw down (to .96 47, -8 pips) has achieved R1 (+55 pips) over night
I have now moved my stops on the second two parts to break even and the first part has closed for +55 (real value = +18 pips)

Price has now reached a level of potential stall, as it is the previous swing high on the daily time-frame as well as the daily descending trend line
Price has retraced and taken out my stop at break even on the other two positions
Its rather an imposing 4 hour bearish bar, but as the trend is still long on both time-frames, I'll continue to monitor for another buy opportunity
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